ManTech to Acquire Sensor Technologies Inc.

ManTech International Corporation (Nasdaq: MANT) announced today that it has signed a definitive agreement to acquire Sensor Technologies Inc. (STI) for $242 million in cash. STI is a leading provider of mission-critical systems engineering and Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance (C4ISR) services and solutions to the Department of Defense. STI’s largest customer is the U.S Army through several contracts, including its prime position on the S3 Indefinite Delivery/Indefinite Quantity contract, on which it has received more than $2.5 billion in task orders to date. The transaction is expected to be accretive to ManTech’s earnings per share in 2010.

Headquartered in Red Bank, NJ and founded in 1991, STI is a privately-held company with specialized services supporting program management offices across the U.S. Army in the areas of biometrics, human terrain systems, communications, and ISR. STI generates solid operating margins and expects to produce approximately $340 million in revenue in 2009 and $450 million in revenue in 2010.

via ManTech